salaryRent is higher than in 50% of U.S. cities. A typical house costs about 3.5 years of household income. Most households rent (62%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $66,240 a year. That is $32 an hour at a full-time job.
Is rent cheaper than other New York cities?
Yes. Rent here is cheaper than in most of New York. It is number 109 of 343 cities from cheapest to most expensive.
How much do households earn in Albany?
Share of households by yearly income. 21.6% of households earn $100,000 or more.
Rent by apartment size in Albany
| Size | Albany | U.S. average |
|---|---|---|
| Studio | $1,028 | $1,338 |
| 1 bedroom | $1,131 | $1,324 |
| 2 bedrooms | $1,444 | $1,509 |
| 3 bedrooms | $1,592 | $1,698 |
| 4 bedrooms | $1,491 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Albany overall?
Everyday prices in the Albany-Schenectady-Troy metro area are same as the U.S. average (index 99.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Albany
Life in Albany
What jobs pay in Albany
| Job | Median pay | Rent / pay |
|---|---|---|
| Physician Assistant | $137,850 | 14.4% |
| Pharmacist | $136,720 | 14.5% |
| Nurse Practitioner | $134,590 | 14.8% |
| Lawyer | $131,310 | 15.1% |
| Software Developer | $127,910 | 15.5% |
| Operations Manager | $111,130 | 17.9% |
| Civil Engineer | $102,470 | 19.4% |
| Registered Nurse | $99,970 | 19.9% |
| Dental Hygienist | $98,030 | 20.3% |
| Computer Systems Analyst | $86,890 | 22.9% |
| Accountant | $84,660 | 23.5% |
| Elementary School Teacher | $79,240 | 25.1% |
| Police Officer | $78,240 | 25.4% |
| Plumber | $77,460 | 25.7% |
| Market Research Analyst | $76,140 | 26.1% |
| Electrician | $74,890 | 26.5% |
| Firefighter | $70,840 | 28.1% |
| HVAC Technician | $66,040 | 30.1% |
| Licensed Practical Nurse | $62,150 | 32.0% |
| Carpenter | $60,720 | 32.7% |
| Truck Driver | $60,720 | 32.7% |
| Server (Waiter/Waitress) | $48,980 | 40.6% |
| Customer Service Representative | $45,350 | 43.8% |
| Medical Assistant | $44,870 | 44.3% |
| Warehouse Worker | $43,640 | 45.5% |
| Nursing Assistant | $40,160 | 49.5% |
| Restaurant Cook | $39,610 | 50.2% |
| Retail Salesperson | $35,420 | 56.1% |
| Cashier | $34,290 | 58.0% |
Is it cheaper to rent or buy in Albany?
About the same. Renting and owning cost within $28 of each other each month.
Owning assumes a typical $234,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $23,470 for the down payment.
Frequently asked questions
What is the average rent in Albany, NY?
Renting in Albany costs a median of about $1,656 a month in 2026, including utilities. The New York median is $2,177.
How much do I need to make to live in Albany?
To keep rent under 30% of income, you need about $66,240 a year, or $32 an hour at a full-time job.
Is Albany cheap or expensive?
Albany is rated OK: rent takes 29.7% of the typical household income of $66,852. It ranks 109th cheapest of 343 New York cities we track.
How much are property taxes in Albany?
The median homeowner in Albany pays $5,091 a year in property taxes, about 2.17% of the median home value.
Is Albany more expensive than the national average?
Overall prices in the metro area are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Albany?
The median home value in Albany is $234,700, about 3.5 times the typical yearly household income.
100,492 people live in Albany. Numbers are typical (middle) values.